Cardano Will Be The Second Biggest DeFi Platform


The latest Quantstamp report shows that Cardano will become the second biggest DeFi platform after Ethereum, leaving Tezos behind as we are reading in the upcoming Cardano coin news today.

According to the leading blockchain security auditing company Quantstamp, Cardano will be the next major DeFi platform leaving Tezos behind. The Quantstamp report shows that the company audited Cardano’s codebase for the past two months and they believe after the Shelley hard fork, Cardano will trail only Ethereum as a smart contract platform, not Tezos.

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The CEO of the audit company Richard Ma said that in his opinion, Cardano has some of the best code in all of the blockchain space and that it is on par with ETH 2.0 Prysm:

 “It’s clear they’ve put a lot of internal effort to solidly test and properly engineer the code and it’s really shown through the smooth launch. We also recently audited prysm from eth 2.0 and we would say that in terms of quality, similar to prysm, it is one of the best codebases we have seen.”

Ethereum will remain, defi, platform, ETH

Discussing the recent Shelley Hard fork, quantstamp communications manager Jaye Harrill, said that by the end of this year, they expect Cardano to be second to Ethereum in popularity as a smart contract platform and that ADA “dwarfs” Tezos as a proof-of-stake blockchain by commenting further:

 “The move to the Shelley era means Cardano will be the second most popular smart contract platform, second only to Ethereum by the end of the year. As a proof of stake system, it now dwarfs Tezos”.

Also, earlier today as reported in the Cardano coin news, the founder of IOHK Charles Hoskinson, replying to EOS Founder Daniel Larimer, saying that by the end of the year, smart contracts and native assets will come back to the platform along with low latency. Over the recent years, however, most of the decentralized applications were built on Ethereum and if things go according to Hoskinson’s plan, Cardano could soon Challenge the dominance Ethereum has in the industry.

The weekend saw a frenzy of activity from the development team at IOHK that were busy performing last-minute checks and tests to ensure a smooth transition from the Byron chain

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